Fuel Tech (NASDAQ:FTEK) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Fuel Tech (NASDAQ:FTEK) in a research report released on Sunday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Separately, HC Wainwright reiterated a buy rating and set a $4.00 price objective on shares of Fuel Tech in a research report on Thursday, May 9th.

Fuel Tech Trading Up 3.9 %

NASDAQ:FTEK opened at $1.07 on Friday. The stock has a 50 day moving average of $1.09 and a two-hundred day moving average of $1.12. Fuel Tech has a 12 month low of $0.96 and a 12 month high of $1.34. The firm has a market cap of $32.52 million, a P/E ratio of -35.67 and a beta of 4.16.

Fuel Tech (NASDAQ:FTEK) last announced its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Fuel Tech had a negative return on equity of 1.92% and a negative net margin of 3.41%. The company had revenue of $4.96 million for the quarter, compared to analyst estimates of $6.73 million. On average, research analysts forecast that Fuel Tech will post -0.02 earnings per share for the current year.

Institutional Trading of Fuel Tech

Institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Fuel Tech during the fourth quarter worth $26,000. Grace & White Inc. NY boosted its stake in Fuel Tech by 6.9% during the fourth quarter. Grace & White Inc. NY now owns 1,859,922 shares of the industrial products company’s stock worth $1,953,000 after buying an additional 120,527 shares during the period. Acuitas Investments LLC increased its position in shares of Fuel Tech by 36.9% during the fourth quarter. Acuitas Investments LLC now owns 822,613 shares of the industrial products company’s stock valued at $864,000 after acquiring an additional 221,932 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in shares of Fuel Tech by 42.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 401,159 shares of the industrial products company’s stock valued at $485,000 after acquiring an additional 119,763 shares during the period. Finally, Marquette Asset Management LLC lifted its holdings in shares of Fuel Tech by 14.7% in the 1st quarter. Marquette Asset Management LLC now owns 141,189 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 18,133 shares during the last quarter. Hedge funds and other institutional investors own 20.94% of the company’s stock.

About Fuel Tech

Fuel Tech, Inc provides boiler optimization, efficiency improvement, and air pollution reduction and control solutions to utility and industrial customers worldwide. The company operates through Air Pollution Control Technology and FUEL CHEM Technology segments. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide (NOx) emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources; NOxOUT and HERT selective non-catalytic reduction systems; selective catalytic reduction systems comprising ammonia injection grid, and graduated straightening grid systems; I-NOx systems; ESP Processes and Services; ULTRA technology; and flue gas conditioning systems.